Although 2014 wasn’t the best year for the housing market, things could have been worse, and as 2015 gets rolling, here are five things you can likely expect to happen.
Home prices have risen 25 percent in the last three years, which is making homeownership less affordable, even with mortgage rates at historic lows. Strict lending standards are also expected to make mortgage availability increasingly scarce as banks pay more attention to borrowers’ income and down payments. Inventory could go up, which would in turn help to bring prices down, new construction will likely increase, and interest rates will fluctuate as global economies flirt with recession.
